Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) (FRA:C3J) reported new sample results from the Jerimum Meio (JM) target on the Cuiú Cuiú gold project in Brazil that show numerous high-grade gold mineralization exposed at surface.
Highlights from the results include an outcropping vein structure where channel sampling returned 0.9 metres (m) at 35.5 grams per ton (g/t) gold, and surface grab samples of 23.7, 42.6, 126.4, 145.8, 162.2 and 700.2 g/t gold.
The JM structure has never been previously drill-tested and will be included in the reconnaissance drill program, Cabral said in a statement.
READ: Cabral Gold identifies a 'compelling' new drill target at its Cuiú Cuiú gold project in Brazil
CEO Alan Carter told investors that the identification of outcropping high-grade quartz-sulphide mineralization at the target is further evidence that “numerous” high-grade veins occur within the Cuiú Cuiú district.
“Unlike other recently identified targets in the eastern part of the district, the high-grade gold mineralization at JM is exposed on surface, which allows us to much more confidently predict the location and orientation of the mineralized structure at depth at this previously undrilled target,” Carter said.
Drilling at the target, originally planned for early February, will likely be delayed until mid-late February after a recent outbreak of COVID-19 at the company’s reconnaissance drill camp, Carter said, adding that all of the affected personnel are exhibiting only mild symptoms.
Follow-up drilling is however continuing at the Machichie NE target. immediately north of the MG gold deposit. A previous hole drilled at Machichie NE in 2019 returned 15.9m at 1.7 g/t gold, including 0.5m at 21.3 g/t gold.
Cabral has a 100% interest in the Cuiú Cuiú gold district, in the Tapajós Region, within the state of Pará in northern Brazil. Two gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant Indicated resources of 5.9 million tons at 0.9 g/t for 200,000 ounces of gold and Inferred resources of 19.5 million tons at 1.2 g/t for 800,000 ounces.
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